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Mr. Keefe explained that before coming to Ramsey, he was employed as a fee appraiser for <br />3.5 years, during which time he prepared appraisals for banks, relocation companies and <br />the State. Mr. Keefe stated that it is physically impossible to treat each property like a fee <br />appraisal when setting property valuations. <br /> <br />Mr. Keefe then inquired if Ed Daeger would like to schedule an on-site re-inspection of his <br />property and home and Mr. Daeger declined. <br /> <br />Myrtle Chapman - 5323 Industry Avenue N.W. - PIN 36-32-25-21-0003 - Stated that her <br />property valuation increased from $61,900 to $111,500; her property tax statement states <br />that the property valuation will increase another $39,000 over the $111,000 figure. <br /> <br />Gordy Starkey - Replied that this is another situation of an error on the property tax <br />statement; the taxes due is correct but the property valuation indicated is not; corrected tax <br />statements are being mailed out. <br /> <br />Mr. Keefe stated that the reason for the sharp increase in Myrtle Chapman's valuation is <br />because land values in this area increased to $.25/square foot this past year. <br /> <br />Robert Arhart - 14140 Germanium Street N.W. - PIN 25-32-25-33-0003 - Stated that he <br />has talked with Mr. John Keefe but he is still disappointed that his land value increased so <br />much. At the time of their visit, John Keefe stated that he would be adjusting his property <br />valuation to $91,500, but he has not received confmnation of that yet. <br /> <br />Mr. Keefe stated that a portion of Mr. Arhart's valuation increase is due to some of the <br />amenities on the property that were previously not listed; for example, fu'eplace, central air, <br />finished lower level, additional 3/4 bath. Mr. Keefe stated that he would send Mr. Arhart a <br />letter confirming the property valuation adjustment to $91,500. <br /> <br />Arthur Raudio - 1404 S. Broadway, Sauk Rapids - PIN 25-32-25-31-0004 - Stated that his <br />wife own's this particular property in the River's Bend area and he would like to be sure <br />that other property owners in that same vicinity of the MUSA area are being assessed <br />similarly. <br /> <br />Mr. John Keefe quoted the per square foot assessment rate used in calculating assessed <br />values for several other parcels in this same vicinity and Mr. Raudio was satisfied with Mr. <br />Keefe's reply. <br /> <br />Councilmember Pearson referred to the 4 in 40 density zoning and sited an example of a <br />property owner platting 4 lots in 40 acres; everything outside the 4 lots would then be <br />considered undevelopable but platted; will the property valuation on the undevelopable <br />portion of the property increase because it is platted or will the property owner receive <br />some consideration? <br /> <br />Mr. Keefe stated that he bases his valuations on comparable sales and without that <br />information to refer to, he would have to estimate market value. <br /> <br />Mayor Reimann stated that he believes there is a real impact to property under the <br />jurisdiction of the 4 in 40 density zoning; the number of potential lots in that property <br />compared to property not ruled by 4 in 40 is substantially decreased. <br /> <br />Board of Review/April 4, 1990 <br /> Page 7 of 9 <br /> <br /> <br />